no intention of it - better odds in Vegas and sometimes the drinks are free

Not being facetious, thought you might have heard something through the grapevine.

nah, i was the one taking the piss - was reading an article by Niall Ferguson in the Sunday Times about bitcoin investment - came to same conclusion that he did, his teenage kid had a better understanding of how it works than he did and that he'll probably kick himself for not investing....but still won't be jumping on the tulip bandwagon

no intention of it - better odds in Vegas and sometimes the drinks are free

People were saying that when it was $700.

mate of mine told me to back a horse at the Leopardstown races over christmas that was a cert at 5/1.....he was right....then again he's told me the same thing a couple of times each year, this was his first "good tip".

No idea whether Bitcoin itself is a tulip or not but it will probably come crashing down on the back of the fall of crypto as a concept.When everyone has their own crypto-currency how much can you value anyone's at. The answer is obviously the same price as a handful of earth. While Bitcoin has a limited number that can be mined, (and there may always be a demand for hidden money), there is no restriction on the number of new cryptos that can be created.Can anyone today name all the crypto currencies that exist ?While there is some small marginal value in yet another new currency more will keep on being created.Going forward, this means everyone in the world could own one or more. There will come a point where no further new ones are recognised as having value. At that point what value will there be in the older ones ?

Joined: Tue Jan 31, 2012 11:05 amPosts: 14013Location: Best country in the world.

goeagles wrote:

All that means is that Bitcoin dominance of the crypto market has receded. The entire crypto market was worth $441.9 billion a month ago. Today it stands at $708.5 billion.

Define worth though. Where is the liquidity in this market. Bitcoin shit itself yesterday because of S.Koreas trading ban. What happens when/if the US follows suit.There are over 1100 crypto currencies issued at this stage. How do we value these without picking a number from thin air.I have traded through bubbles from the Hunt Brothers early raids into the soya market and subsequently into silver of the early 80's and everything in between but I could at least understand the fundamentals of those markets, skewed as they were but I have no idea about how blockchain can maintain any underlying integrity as an alternate form of wealth.

All that means is that Bitcoin dominance of the crypto market has receded. The entire crypto market was worth $441.9 billion a month ago. Today it stands at $708.5 billion.

Define worth though. Where is the liquidity in this market. Bitcoin shit itself yesterday because of S.Koreas trading ban. What happens when/if the US follows suit.There are over 1100 crypto currencies issued at this stage. How do we value these without picking a number from thin air.I have traded through bubbles from the Hunt Brothers early raids into the soya market and subsequently into silver of the early 80's and everything in between but I could at least understand the fundamentals of those markets, skewed as they were but I have no idea about how blockchain can maintain any underlying integrity as an alternate form of wealth.

Big stones were used recently by an island economy. I have nodoubt they dumped them when they realised there are too many big stones in the rest of the world. Even today some rocks from the earth are treated as valuable. If there were as many diamonds as there are grains of sand, then they would be practically worthless.As there is no theoretical limit to the numbers of crypto currencies that could exist, then theoretically it is possible to create more currencies than the are grains of sand. Bitcoin may have a place today, but what intrinsically is going to make it hold it's value against all other potential competitors.In the future sand will be more valuable, and in the meantime it is great to lie upon.

All that means is that Bitcoin dominance of the crypto market has receded. The entire crypto market was worth $441.9 billion a month ago. Today it stands at $708.5 billion.

Define worth though. Where is the liquidity in this market. Bitcoin shit itself yesterday because of S.Koreas trading ban. What happens when/if the US follows suit.There are over 1100 crypto currencies issued at this stage. How do we value these without picking a number from thin air.I have traded through bubbles from the Hunt Brothers early raids into the soya market and subsequently into silver of the early 80's and everything in between but I could at least understand the fundamentals of those markets, skewed as they were but I have no idea about how blockchain can maintain any underlying integrity as an alternate form of wealth.

You're right that market cap is not the true value if everyone holding chose to sell at once, but of course that's true to some degree (depending on liquidity of course) in any market. But market cap at least does compare like for like when comparing across dates. I think it would be reasonable to say the value of the crypto market has increased by ~60% in the last month.

Anyway, I said this on the other thread but the book on cryptos by Chris Burniske and Jack Tatar provides a good framework for fundamental analysis of cryptoassets, in addition to its other excellent explanation of the asset class.

All that means is that Bitcoin dominance of the crypto market has receded. The entire crypto market was worth $441.9 billion a month ago. Today it stands at $708.5 billion.

Ponzi gonna ponzi.

It's simple, put money in, get more money out.It's just money making money.

Also, according to some, it's saving democracy.

Except of course it doesn't work like that at all. In fact, if you'd put money in 3 weeks ago, you'd be down as much as 30% now. Also, a ponzi scheme needs to constantly fed by new investors at the bottom while older investors take multiplied profits at the top. Neither is happening.

All that means is that Bitcoin dominance of the crypto market has receded. The entire crypto market was worth $441.9 billion a month ago. Today it stands at $708.5 billion.

Ponzi gonna ponzi.

It's simple, put money in, get more money out.It's just money making money.

Also, according to some, it's saving democracy.

Except of course it doesn't work like that at all. In fact, if you'd put money in 3 weeks ago, you'd be down as much as 30% now. Also, a ponzi scheme needs to constantly fed by new investors at the bottom while older investors take multiplied profits at the top. Neither is happening.

There's been millions fm new investors over the last 6 months. And lots of profit taking.

All that means is that Bitcoin dominance of the crypto market has receded. The entire crypto market was worth $441.9 billion a month ago. Today it stands at $708.5 billion.

Ponzi gonna ponzi.

It's simple, put money in, get more money out.It's just money making money.

Also, according to some, it's saving democracy.

Except of course it doesn't work like that at all. In fact, if you'd put money in 3 weeks ago, you'd be down as much as 30% now. Also, a ponzi scheme needs to constantly fed by new investors at the bottom while older investors take multiplied profits at the top. Neither is happening.

There's been millions fm new investors over the last 6 months. And lots of profit taking.

Adopters. The point is that it isn't a ponzi scheme anymore than the stock market is.

I have traded through bubbles from the Hunt Brothers early raids into the soya market and subsequently into silver of the early 80's and everything in between but I could at least understand the fundamentals of those markets, skewed as they were but I have no idea about how blockchain can maintain any underlying integrity as an alternate form of wealth.

Pffft! Come back to us when you get a decent crop report and throw everything into frozen concentrated orange juice.

I have traded through bubbles from the Hunt Brothers early raids into the soya market and subsequently into silver of the early 80's and everything in between but I could at least understand the fundamentals of those markets, skewed as they were but I have no idea about how blockchain can maintain any underlying integrity as an alternate form of wealth.

Pffft! Come back to us when you get a decent crop report and throw everything into frozen concentrated orange juice.

Hey, we’re losing all our damn money, and Christmas is around the corner, and I ain’t gonna have no money to buy my son the G.I. Joe with the kung-fu grip! And my wife ain’t gonna f… my wife ain’t gonna make love to me if I got no money!

Hey, we’re losing all our damn money, and Christmas is around the corner, and I ain’t gonna have no money to buy my son the G.I. Joe with the kung-fu grip! And my wife ain’t gonna f… my wife ain’t gonna make love to me if I got no money!

Hey, we’re losing all our damn money, and Christmas is around the corner, and I ain’t gonna have no money to buy my son the G.I. Joe with the kung-fu grip! And my wife ain’t gonna f… my wife ain’t gonna make love to me if I got no money!